Portal YouTube has extended an agreement with the service Vevo, delivering record video clips on the popular video hosting.
As part of the agreement signed Google and Vevo, the first investment will support the musical project. By estimates of the magazine Billboard, the size of the support will be 40-50 million dollars.
Recall that Vevo is a joint venture between the companies Universal Music, Sony Music Entertainment and Abu Dhabi Media Group. The official size of the investment was not disclosed.
"We have made some investment in Vevo", - stated in YouTube. "We are delighted with the prospects that can provide Vevo and YouTube co-user audience."
